BlackRock, the world’s largest asset manager, is set to offer a Bitcoin Spot ETF (ETP) in Europe, expanding its crypto investment products beyond the United States.
The move follows the success of BlackRock’s $58 billion US-based Bitcoin ETF.
BlackRock to Expand Bitcoin Spot ETF to All of Europe
The fund is expected to be based in Switzerland and marketing efforts could begin as early as this month, people familiar with the matter said. BlackRock has not officially commented on the launch.
BlackRock, a leader in exchange-traded fund (ETF) issuance, manages more than $4.4 trillion in assets across its various ETF products. While crypto-linked ETPs have been available on European markets for years, this is BlackRock’s first direct entry into European crypto-linked investment vehicles.
The asset management giant has played an instrumental role in legitimizing digital assets within traditional finance. At the World Economic Forum in Davos last month, BlackRock CEO Larry Fink highlighted Bitcoin’s potential as a hedge against currency devaluation.
The launch of spot Bitcoin ETFs in the U.S. a year ago has fueled a surge in demand for cryptocurrency investment products, drawing $116 billion across 12 funds, according to Bloomberg data. BlackRock’s iShares Bitcoin Trust leads the industry, setting records for the most successful ETF launch in history.
“Being able to gain exposure to Bitcoin through ETP packaging has proven to be an attractive combination for investors,” BlackRock executives Samara Cohen and Jay Jacobs wrote in a blog post last month.
*This is not investment advice.
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